New Zealand Legislation: Regulations

5 Exemption from sections 33(3), 37(1), 37A(1)(a), and 51 to 54B of Act and regulation 14(2) of Regulations

• SBS and every person acting on SBS's behalf are exempted from sections 33(3), 37(1), 37A(1)(a), and 51 to 54B of the Act and regulation 14(2) of the Regulations in respect of the redeemable shares to the extent that the redeemable shares consist of participatory securities.